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, is that we will get too much deficit reduction too quickly. if reducing the deficit was what the economy needed we could go right off the cliff and leave it there. you can see it in this graph, that line going down. that is the fiscal cliff, we went over our deficit problems, gone baby, totally, totally gone. one thing the fear of the fiscal cliff shows by the way, in the fox hole, everyone's a kinsian. everyone agrees. that is number one. too much austerity way too quickly. president obama is not asking for that much in taxes. it's worth getting a bit of perspective in here. you'll be shocked to know, we got a graph for that. here's what happens if we go over the cliff. you get more than $5 trillion in tax increases off the bat. and now here's what happens if we pass the sainted simpson bowles plan. you've heard of the plan. they have 2.6 trillion in tax increases. president obama's latest offer to john boehner has 1.2 trillion in taxes. that is half as much, less than half than simpson bowles, and less than a quarter of what is in -- simply going over the fiscal cliff. i think the tax
to worry about and doesn't matter if they sell a lot at the low price. this year, it's deficit and have a lot of inventory. they have gone from managing sales to inventory, that's where the profits go out the window. they want to sell out than sell off. >> more people bought gift cards this year than bought product? >> you tell me, what was on your list this year new and exciting. >> nothing. i wanted socks and shirts. >> you have two things happening, more gift card because nobody knows what to get you- >> and i returned them. >> and they bought you a bad gift so they frankly didn't know what to get you so they foot go something and you will drive more product. >> for $100 go on a gift card how much doesn't get spent? >> 80% don't spend the money and those that do spend spend 116%. stores do like it when they get you in. 16% never get redeemed, money sitting in a drawer. >> marshall, thank you. >> the big old -- what is that a windsor? >> a windsor. double windsor. >> why? >> you try to change the look. don't always want to go narrow. is that a brioni tie? >> what is this a foreign han
much deficit reduction too fast. so all of this takes place against a debate about how to reduce the budget deficit. that's why you get into this theater of the absurd. >> well, and look at the tape you showed at the opening of the program with keith boykin over and over again showing the dysfunction of congress. they made this so onerous with the belief it would make them do something less onerous and now they're right up against it. >> they really know how to make these crises happen. political correspondent and writer, john howard, thank you very much for joining me and former labor secretary robert reich, thank you for joining me tonight. >>> coming up, the nra has done much more damage than you think. and they've made gun ownership much harder to trace. >>> and the romneys keep trying new explanations for why mitt lost. but they aren't getting any closer to the truth. and as some of you on twitter already know, i am wearing a christmas gift or two on the show tonight. there is still time to tweet your guesses about what it is. the answer to what christmas gift or gifts am i
Search Results 0 to 2 of about 3